Bitlayer Launches YBTC on Solana with Kamino Finance and Orca Partnership
Bitlayer, a bitcoin DeFi infrastructure project, has partnered with Kamino Finance and Orca to introduce its bitcoin-backed token, YBTC, to the Solana ecosystem. This integration aims to leverage Bitlayer's security alongside Solana's speed and scalability.
- YBTC is pegged 1:1 with BTC and represents locked BTC within the Bitlayer ecosystem.
- Users can access yield opportunities through Kamino’s earn vaults, which provide optimized BTC-denominated returns.
- Orca’s Concentrated Liquidity Market Maker enables zero-slippage swaps between YBTC and other assets.
- Users can redeem BTC at any time via cross-chain operations.
- Bitlayer's BitVM Bridge has partnerships with Sui, Base, and Cardano for ecosystem collaboration.
- An incentive program rewards participants with Bitlayer’s native token, BTR, for minting YBTC and using its features.
Kamino Finance focuses on automated concentrated liquidity management for DEX market makers, while Orca operates as a decentralized exchange on the Solana network.